Fact Box: Global Innovation Index 2017

In the Global Innovation Index 2017, co-authored by Cornell University, INSEAD and World Intellectual Property Organisation (WIPO), India has moved up 6 places to reach 60th place among 130 countries emerging as the top-ranked economy in Central and South Asia.
This is the 10th edition of the Global Innovation Index 2017 (GII).

Salient Highlights

Top 10 most Innovative countries: Switzerland, Sweden, the Netherlands, the US, the UK, Denmark, Singapore, Finland, Germany and Ireland. Switzerland leads the rankings for the 7th consecutive year.
The index is dominated by high-income economies which took 24 of the top 25 spots except for China which is ranked at 22nd spot.
Among India’s neighbours, Sri Lanka has managed to bag 90th spot and Nepal stood at 109th place. Pakistan has been ranked as 113th followed by Bangladesh at 114.
BRICS countries: Brazil (69), Russia (45), China (22), South Africa (57).
India  
India has made improvements in the rankings after five continuous years of decline in the ranking. The report has observed that India’s rise in innovation has benefitted its neighbouring countries.
The index has highlighted the continuous improvement of India in terms of investment, tertiary education, quality of its publications and universities, ICT service exports etc.

Task Force on Innovation

To assess India’s position on the innovation front, the Ministry of Commerce and Industries had set up a task force on innovation. The task force comprising of government officials and experts from private organisations & academia, has recently come up with its report that detailed specific measures to improve India’s ranking in GII.

GII

GII surveys are conducted every year which analyses 130 economies and aims to capture the multi-dimensional facets of innovation. The index makes use of a dozen parameters ranging from patent filings to education spending and offers the decision makers a high-level look at the innovative activity which are drivers of economic and social growth. GII, over the last few years has established itself as a leading reference on innovation.

World Intellectual Property Organisation (WIPO) is the global body for promotion and protection of intellectual property rights (IPR), headquartered in Geneva, Switzerland.

Month: Current Affairs - June, 2017